Premiums written Austria

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Premium development

The Austrian VIG companies wrote gross premiums of EUR 4,122.53 million in 2012, representing an increase of 2.1% over the previous year. Wiener Städtische contributed EUR 2,253.49 million of this premium volume, Donau Versicherung EUR 1,025.31 million and s Versicherung EUR 843.73 million. Net earned premiums rose by 1.5% in 2012, from EUR 3,283.11 million to EUR 3,333.79 million.

EUR 1,896.65 million of the premiums, or 46.0%, were written in the property and casualty area. In addition to the good performance achieved in Austria, this increase of 8.4% compared to 2011 was also due to good business development in the corporate business and contributions from the Wiener Städtische branch in Slovenia and Donau Versicherung branch in Italy.

Life insurance contributed EUR 1,878.33 million, or 45.6%, of the premium volume, representing a decrease of 3.7% for the Group in Austria in 2012. The unattractive investment horizon resulting from extension of the minimum tax lock-in period to 15 years for single-premium products continues to have a negative effect in this area, thereby slowing the growth of the entire line of business.

Health insurance generated EUR 347.55 million in premiums. This was equivalent to an increase of 3.0% compared to 2011, when premium income from health insurance was EUR 337.52 million.

Expenses for claims and insurance benefits

Expenses for claims and insurance benefits rose compared to the previous year from EUR 3,063.93 million to EUR 3,289.17 million in 2012. This represents an increase of 7.4% in expenses.

Acquisition and administrative expenses

The Austrian Vienna Insurance Group companies had acquisition and administrative expenses of EUR 578.23 million in 2012, representing an increase of 7.6% compared to 2011.

Profit before taxes of EUR 295.28 million

Profit before taxes rose by 1.2% in Austria to EUR 295.28 million in 2012 (2011: EUR 291.88 million).

Combined ratio of 94.7%

The combined ratio (after reinsurance, not including investment income) was 94.7% in Austria in 2012 (2011: 93.7%).

Vienna Insurance Group in Austria

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in EUR million




Premiums written












Profit before taxes




This information
was audited by PWC
GmbH, Vienna on
March 12, 2013.